Now trying to convince your spouse that it's a great idea...ummmmmm...I'm not going there...nope...no way...no how...I'm not crazy enough to cross that bridge...

If this is just across the bridge from NYC then that might be an OK cap rate range; if this is across the bridge from Philadelphia (like Camden), then that cap rate range is maybe not so wonderful.

Depending on how that conversation went with the broker determines if you burned that bridge or not.

You could still buy the building, but would need to use a bridge lender or possibly a local bank or credit union.

To be more specific, I bought a Turnkey property from Bridge Equity that when the house was being redone they did not think this part all the way through...so they put the washer and dryer hook-ups in the kitchen.

Similarly, if you plan to refinance on commercial you should do a bridge loan or do shorter terms with no pre-payments.

@Grant RothenburgerBoth are W2 jobs surprisingly.My concern is the $ for a downpayment for sure, I'll burn the bridge of obtaining a mortgage once I get there.I realize taking 2 weeks off every 5 months severely hinders my growth within a company but at this point in my life I don't want to let go of the relationship (Ask me again in a few years :p).

I intend to rent for two years then rip that carpet our, change the counter tops etc and saleIn addition, I imagine I’m allowed to use a bridge type loan where I term out the original construction loan to , say 20 Years.

I have been working with New Western here in Dallas and they have connected me with their sister company hard money lender Sherman Bridge.

Sounds like you'd need to bridge with a hard money lender but before you do that you better be sure that you have a bank lined up to cash you out.